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Bankrate Survey: Nearly 22 million Americans put off buying a home as a direct result of the national crisis

August 12, 2020

According to a new Bankrate survey, more than a third of Americans are putting off at least one major life event because of the coronavirus pandemic. Fully 36 percent of respondents say they’ve delayed getting married, having a child, buying a home, retiring or another major step. Generation Z (ages 18 to 23) and Millennials…

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Rent collection improved steadily throughout the second quarter according to REITs

August 10, 2020

As the government allowed more nonessential retail tenants to open, shopping center REITs say rent collection improved steadily throughout the second quarter. Regency Centers “We have purposely taken a very deliberate approach to negotiating rent deferrals with our tenants,” Regency Centers executive vice president and COO Jim Thompson said on an earnings call. “We didn’t…

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The Chairman of Senate Banking Committee urges Treasury and Fed to expand MSLP

August 6, 2020

On July 31, Senate Banking Committee Chairman Mike Crapo (R-ID) submitted a letter to Treasury Secretary Steve Mnuchin and Federal Reserve Chair Jerome Powell encouraging the expansion of the Main Street Lending Program (MSLP) by setting up an asset-based lending program and commercial real estate (CRE) program. MSLP supports lending to small and medium-sized businesses and nonprofit…

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New York regulators to revoke real estate licenses if agents or brokers are found to violate anti-discrimination laws

August 5, 2020

New York regulators now have the power to revoke real estate licenses if agents or brokers are found to have violated anti-discrimination laws. Governor Andrew M. Cuomo signed legislation (S6874-A/ A8903-A) explicitly granting the Department of State the authority to discipline real estate professionals found to have violated provisions of the state Human Rights Law by revoking or…

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Zumper: COVID-19 is causing a “squeezing” effect on U.S. rental prices

August 4, 2020

According to Zumper’s National Rent Report for August 2020, the rent decreases in the country’s most expensive cities and rent increases in more affordable cities, sighting that COVID-19 is causing a “squeezing” effect on U.S. rental prices. This seesaw effect has continued to accelerate this summer as the outbreak persists and more Americans are opting for…

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GCAR: Pending house sales of June were 17% higher than last year

July 30, 2020

The Greater Capital Association of Realtors reported that real estate market in the Capital Region showed signs of life in June. Pending sales – houses that are under contract but the sale has not closed yet – were not only up over May (1,553) they were 17% higher than June of 2019. The trade association…

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US retail sales climbed 7.5% in June

July 29, 2020

The US Census Bureau reported that retail sales rose by 7.5% in June 2020. It is 1.1% higher than their levels from a year ago, a sign that the economy was improving right after the chaos caused by Coronavirus. The U.S. Retail Sales Report measures the U.S. retail industry each month. The Census Bureau surveys 4,900 to collect retail sales…

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Unemployment Rate continues to rise as decline in Retail Workforce has gotten worse since Covid-19

July 27, 2020

Analysts believe that after the pandemic, the workforce could remain smaller or shrink further as retailers discover they can’t make payroll with the same headcount as costs from wages to sanitizing stores rise or learn they can operate with a leaner staff.  More than one in four American jobs were supported by the retail industry…

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National and Local Recovery Trends in Real Estate Activity – Week ending of July 11

July 23, 2020

A report from Realtor.com compiles a “recovery index,” combining several market metrics and comparing the results through July 11 with January 2020 levels. These score tracks growth in online search activity, asking prices, time on market and new listings. While the index doesn’t measure the number of completed sales, notable gains in inquiries and prices…

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US Single-Family Rents Up 1.7% Year Over Year in May

July 21, 2020

Based on CoreLogic’s latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across 20 U.S. metropolitan areas, a national rent increase of 1.7% year over year was recorded in May 2020, down from a 2.9% year-over-year increase in May 2019. In early 2020, in the months leading up to the coronavirus (COVID-19) pandemic…

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